Stock Market & Financial Investment News

Honda makes new Acura development unit to lead overhaul, Bloomberg saysHonda has created a new group to lead the business development overhaul of its Acura brand, according to Bloomberg, citing a company statement. Reference Link

Honda says Takanobu Ito to step down as CEO, Takahiro Hachigo named new CEOTakanobu Ito is stepping down as president and CEO of Honda, the company announced in a press release. Takahiro Hachigo, Honda's managing officer, will take over as president and CEO in June.

Honda cuts production by another 5,000 due to U.S. port strikes, Reuters saysHonda Motor Co stated it will lower production at two factories in Indiana and Canada from February 24 to March 2 due to a parts shortage brought on by continuing U.S. port strikes, reports Reuters, citing a Honda spokesperson. Total output loss for the two factories -- which mainly produce Civics -- will be roughly 5,000 cars, while total output loss for the company from February 16 to 23 will be roughly 20,000 cars. The spokesperson said supply will be "a little bit better next week" due to air deliveries. Reference Link

Car sales rose in Europe last month, NY Times saysEuropean car sales increased 6.7% in January, versus the same period a year earlier, data from the European Automobile Manufacturers’ Association indicates, according to The New York Times. January was the 17th straight month that European car sales have increased, but they remain well below the levels they reached before the financial crisis, the newspaper stated. Publicly traded companies in the space include Fiat Chrysler (FCAU), Fiat S.p.A. (FIATY), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY). Reference Link